ZCash: recent developments that have sparked community uproar

The principle behind ZCash is to empower everyone with economic freedom and opportunity. ZCash community believes that everyone has a right to privacy. The cryptocurrency, which ranks 19 on CMC, seeks to provide virtuous economic freedom through the adoption attack-and-censorship-resistant digital currency.

Three days ago (October 20), ZCash was the biggest gainer among the top 20 cryptos when it displayed an upward trend nearly surpassing the $125-dollar mark. While it dropped slightly in the last 48 hours, ZCash price continues to rise among the notable altcoins owing to a healthy trading volume witnessed in the last few days.

Latest developments

Going by the activities lined up for ZCash community, it’s clear that many good things are bound to come out of the network that believes the future of money is digital, decentralized, and secure. For example, the network upgrade sapling scheduled for October 29, will introduce many positive changes to the network.

Even so, the following recent developments on the ZCash network have equally contributed to the growth witnessed in the last few days. At the time of writing, ZCash is at position 19, trading at $122.93 with a market cap of more than $623 million.

SimpleSwap listing

One of the recent developments in the ZCash community is the listing of ZEC currency on the SimpleSwap platform. This obviously will increase the liquidity of the cryptocurrency, which is a good thing.

READ ALSO:  Open Banking, APIs and PSD2 will dominate the banking agenda in future

SimpleSwap is a cryptocurrency exchange platform that is easy to use and user-friendly. It requires no registration and imposes no limits. The system is integrated into the largest cryptocurrency exchange platforms. It has no deposit storage and offers only coin exchange service. Through that system, it offers its users the best exchange rates within the shortest time possible.

Besides, rumors have it that ZCash could soon find itself on the Coinbase platform. This follows the announcement by Coinbase recently, citing the coins and tokens that are of interest to them. These included ZCash, XLM, Cardano, and Basic Attention Token.

The listing is a big boost for ZEC enthusiasts because they will be able to swap their digital assets directly without signing up or sharing any in particular information. This will eventually provide some liquidity for the ZEC currency as such platforms are always in high demand.

ZCash leads Dogecoin in market cap

As different cryptocurrencies struggled to take their positions, October saw ZCash overtaking Dogecoin in terms of market capitalization. Previously Dogecoin, which is an open-source peer-to-peer digital currency, maintained a solid position among the top 20 cryptocurrencies by market cap.

READ ALSO:  Best Privacy Coin: Monero (XMR), Zcash (ZEC) and Dash (DASH): Which Will Prevail?

However, this is no longer the case, as ZCash has effectively overtaken it. As of this writing, ZEC is at number 19 while Dogecoin is at 21 with a market cap of more than $496 million USD. This is an indication that ZCash is on the rise and things may continue improving in the future.

This may not be a major development now, but it points to greater things to come upon the ZCash community. For instance, it shows the demand for the ZEC currency is increasing, which will propel the market to higher values as the ZEC currency eyes a $750 million valuation in the future. All factors considered, this is a real positive development.

An open-source Guarda mobile wallet

In the growing crypto space, mobile wallets play a crucial role. For ZCash users, they have limited options when it comes to choosing a mobile wallet. All along, Guarda has been one of the best solutions. Guarda is a web-based, multicurrency wallet that enables users to easily store, send, receive, and exchange crypto coins.

The wallet made a great leap when it became open source. This will improve its visibility going forward.

While most people would frown at associating mobile wallet with being open-source, there is often something good that comes with it. For the Guarda wallet, which has been closed source for a long time, users can now be happy to reap the benefits that come with an open-source wallet. One of the benefits is making the cryptocurrency available to more people.

READ ALSO:  Coinbase Crypto Affect: Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), and Zcash (ZEC) All Pumping Following Ox Listing

Recently, the team behind Guarda wallet announced that they would make the wallet code open-source soon. These recent developments on the ZCash community depict continuous growth and evolvement.

Final words

ZCash is a digital currency just like Bitcoin, Ethereum, and others. All the same, the latest developments on its ecosystem point to a brighter future for the cryptocurrency that is the brainchild of scientists at MIT, Johns Hopkins, and other reputable academic and scientific institutions.

Disclaimer: While carefully researched, this article is not a direct trading or investment guide. Its purpose is informational, educational, and entertainment. Consult a financial expert before you invest in cryptocurrency.